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The pandemic not only diverted a flow of travel dollars from city breaks to the great outdoors, it delivered a torrent of new audiences.
The challenge now for those companies benefiting from the behavioral shift is how to stop the tide from turning once the crisis subdues.
RV rental firm Outdoorsy, for example, went from 400 percent year-on-growth in its early years to 4,500 percent growth in the high season last year. It also raised $50 million in funding in 2019.
“We’re starting 2021 with 145 percent growth, and a good proportion are first-time renters,” said Jen Young, co-founder and chief marketing officer, speaking at Skift Live Short-Term Rental and Outdoor Summit on Wednesday. “There’s been a significant influx of new consumer demand.”
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More travel executives get their mission-critical industry news from Skift than any other source on the planet.Tell me more
Vrbo President Jeff Hurst is blunt when it comes to the lodging realities of travel this summer: book early or have a Plan B in case things are full.
Despite an increase in listings in key markets, the full-home rental site does not aim to have enough offerings to meet all of the demand in key markets, like Breckenridge, Colo., or the South of France, said Hurst at the Skift Short-Term Rental and Outdoor Summit on Wednesday.
“You can’t solve for there’s not enough homes in the Outer Banks [of North Carolina] for all the people who want to go to the Outer Banks this summer,” he said. “Some people are going to have to not go to the Outer Banks this summer.”
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Ahead of Skift’s Short-Term Rental and Outdoor Summit on May 19, we are hosting a Clubhouse chat to discuss the broad issues facing short-term rentals, Airbnb’s outlook, and the legacy vacation rental ecosystem, which has since seen an influx of investors, acquisitions, and expansion even through the pandemic.
Click here to view this event directly in the Clubhouse mobile app.
Some of the lively discussion will include: Short-term rentals are built around leisure: They can thrive with domestic travel vs inbound, they are widely distributed and growing … so will they continue to dominate the bookings in 2021 and how long will that last?